Danish Pension Fund Divests US Debt Amid Trump's Greenland Threats

A Danish ⁠pension fund has said it plans to divest its holdings of US government debt in response to Donald Trump’s threats against Greenland. AkademikerPension, which manages around $25bn in savings for teachers and academics, said ‍it ‌would sell ‍off around $100m worth of US ‍Treasuries ‌by ‍the ​end of ‍this month. Its chief investment officer Anders Schelde announced the move with a swipe against the health of the US economy as president Trump ramps up a global trade war. “The US is basically not a good credit and long-term the US government finances are not sustainable,” he told Bloomberg. Stock markets in the UK, Europe and on Wall Street have plunged today as tensions were ratcheted up in various meetings at the World Economic Forum in Davos. Danish prime minister Mette ‍Frederiksen ‌said she ‍will ⁠not ‌abandon Greenland while Gavin Newsom, the governor of California, told Britain and Europe to “fight fire with fire” if they hoped to negotiate successfully with Mr Trump. US treasury secretary Scott Bessent urged Europe not to retaliate to president Trump’s plan to impose extra 10pc tariffs from February until a deal on Greenland is reached, rising to 25pc from June. He told the World Economic Forum in Davos: “I would say this is the same kind of hysteria that we heard on April 2. There was a panic. And what I’m urging everyone here to do is sit back, take a deep breath, and let things play out. “As I said, the worst thing countries can do is escalate against the United States.” Rachel Reeves, the chancellor, said families and businesses should keep “cool heads” over the prospect of higher US tariffs.